problem set for econ 1 –

This course examines further issues on the determination of the equilibrium level of national income and its allocation among consumers, investors and government. Particular attention will be paid to the role of government policy on macroeconomic equilibrium for an open and closed economy. Additional issues to be discussed include government debt and deficit, investment, money demand and money supply, unemployment, economic fluctuations, and growth. We will also discuss business cycles: recessions, depressions, revivals, expansions.